RIM update

We repeat the fractal shown in a blog back in Oct. 2012;

RIM oct 2012

The accompanying calculation was that the stock would trade in the $7 range if it were to drop a proportionate amount and I compared it to buying Apple at $6, a second opportunity so to speak to step to the plate. Now that we have reached $18 where does it go? The Nov. 22nd blog, shown below in both frames, is probable the most accurate in describing the trajectory, so far at least;

rim nov 22 2012 brim nov 22 2012 l

If this prediction continues to work, we should soon get a breakdown in a wave B or wave 2, the latter obviously fits the new bull scenario the best. This should take the stock back to about $12/10 ( After that the stock could rise to about $30 which is where the first bump in the chart is on the way down (a 4th wave of sorts). If any of this will actually happen remains to be seen. What definitely supports this scenario are the shorts. Apparently there are now more shorts than at the lows. Canadian exchanges cannot figure out how big the short position is, or prefer to keep us in the dark. However, in the US the shorts are now reported to be at about 137 mln. shares, which at the average daily turnover for the last 200 days of 28 mln. shares, would take 5 full days of trading. This should keep a pretty healthy bid under the stock. An updated chart is shown below.

rim jan 25 2013